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Barclaycard PPI claim query
centurion_36
Posts: 47 Forumite
Hi. About 20 years ago my wife had a barclays bank account. She ran a small business using borrowed money from barclays account. She got into debt after the business failed she had her house reposessed to pay the debt but barclays tried to claim another 18k after the sale of the house. After a legal battle the debt was not pursued. Around the same period of time she also had a barclaycard which she spent quite alot of money on.
My question is are barclays and barclaycard financially connected as we dont want to drag up the old 18k debt if we apply for her old barclaycard PPIs.
My question is are barclays and barclaycard financially connected as we dont want to drag up the old 18k debt if we apply for her old barclaycard PPIs.
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Comments
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You cannot activate debts once 6 years has passed and/or the bank agrees not to chase any more. A barclaycard PPI complaint would be separate and should technically not be used for the old debt as an off-set, the morality of this is a different matter of course!
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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PPi redress can only go against arrears/defaults/amounts written off/statute barred debts that the PPI was directly linked to.
So, if there was PPI on Barclaycard and the complaint is upheld, they can only use the redress on the Barclaycard PPI against the Barclaycard debt.
Statute barring does not apply to PPI refunds. They can apply the redress against the debt no matter how long ago it was statute barred.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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